Major retailers such as Kohl's, Target and Macy's are reporting weak sales in November as a strong Thanksgiving weekend wasn't enough to fully offset a slow start to the month caused by Superstorm Sandy.
Eighteen retailers reported that sales in November through last Saturday were up 1.7 percent compared with the year-ago period, according to the International Council of Shopping Centers. That's well below the anticipated forecast for a 4.5 percent to 5.5 percent gain.
The results are based on revenue at stores opened at least a year and are considered a key indicator of a retailer's health.
The holiday period, which runs roughly from November through December, accounts for as much as 40 percent of retailers' annual sales.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed